Eveready forays into home appliances segment

Continuing with its diversification drive, battery major Eveready Industries today announced its entry into the home appliances segment with a target of cornering 4-5 per cent market share over the next five years.
The company had expanded its brand to electrical appliances and LED lighting in the recent past, after batteries and flashlights.
"We will roll out 60 home and kitchen appliances over next few months.
"It is highly fragmented (market), and with an iconic brand like Eveready and distribution reach with one lakh touch points deep in the rural market, we are well positioned to leverage these," Eveready Managing Director Amritanshu Khaitan said here today, unveiling the range of products.

"Currently, the home appliances market is pegged at Rs 15,000 crore, growing at 10-12 per cent. Over the next five years, it will swell to Rs 25,000 crore," he said, adding the company will compete with popular and premium brands in the segment.
The products include mixers, juicers, irons, fans, kettles and induction cookers, among others.

The company has adopted an asset-light model for the venture. The products are being outsourced from both Chinese and domestic vendors.
E-commerce will be a major distribution channel for the company for home appliances, like it is for LED lighting.
In the next few months, the products would be available across the country in traditional channels as well, he said.